Summary
The nation's payments industry is at a critical phase. A variety of issues from ever-increasing transportation and courier costs to the closing of regional Federal Reserve check processing sites have been depressing community bank revenues and reducing profitability. But now events are changing for the better. The past year saw some significant and positive milestones for check image exchange. Check image exchange has never been easier and more cost efficient to deploy. Image exchange volumes are up with financial institutions across the country. The interoperability issues have been resolved. The closing of Federal Reserve check processing centers coupled with the increasing costs of courier and transportation services make paper check clearing more cost prohibitive by the day, while check image exchange eliminates the transportation infrastructure needed to move paper checks.
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No Community Bank Left Behind
The nation's payments industry is at a critical phase. A variety of issues from ever-increasing transportation and courier costs to the closing of regional Federal Reserve check processing sites have been depressing community bank revenues and reducing profitability. Transportation costs will continue to...
See the full content of this document
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